2020/ 21 has been a worrisome period. The effect of the COVID-19 crisis on SME performance across the United Kingdom and the globe is immense.
The COVID-19 pandemic has forever changed online shopping behaviours, according to a survey of about 3,700 consumers in nine emerging and developed economies.
Following the pandemic, more than half of the survey’s respondents now shop online more frequently and rely on the internet more for news, shopping and digital entertainment.
Consumers in emerging economies have made the greatest shift to online shopping, which means increased competition globally.
“The COVID-19 pandemic has accelerated the shift towards a more digital world.
To stay competitive in this new business and economic environment requires new strategies and practices.
As a small business, it’s easy to be intimidated by competitors that have bigger budgets, more established brands, and bigger teams.
Though larger brands will likely always be able to outspend you, there are ways to increase visibility for a smaller company with smaller budgets. While you can be outspent in TV, radio and billboard advertising, the Internet offers multiple possibilities for out-smarting your competitors and growing your market share.
The Co-op will provide members of this community with advice, the support training and services, tools and platforms needed to financially empower the members and their businesses which in effect supports the growth of the community.
It will also help the unemployed as well as help, train interns from less privileged communities as well as support people who are tired of the 9 to 5 scene. It will also support entrepreneurs and most of all businesses.
The Co-op has two types of memberships, memberships for business owners as well as for individuals. The coop will sell shares to both segments of the market.
By offering our members an own, start and run your own business opportunities, as well as Marketing and Multimedia services at heavily discounted rates, encourages small businesses to become more active. And as the cooperative grows bigger and financially stronger due to patronage from its members and the wider community, this will enable us to offer other services. for example, create a shopping app.
The organization is rooted in community social responsibility, members are willing to support and help the organization allowing it to become successful, hence taking a cooperative approach.
The organization exists to support the empowerment of the community and its members.
The acquisition of membership shares, as well as sales of products and services, will allow the organization to cover costs associated with doing business and allow it to slowly grow.
Goodlife Cooperative expects the membership roster to grow by at least 50% yearly.